28.49
price down icon0.25%   -0.07
after-market After Hours: 28.30 -0.19 -0.67%
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Why is Kraft Heinz Co (KHC) Stock down?

12 Oct, 2023:

Shares of The Kraft Heinz Company (KHC) dropped by 5.02% from $32.44 to $30.81 in the trading on Thursday, October 12, 2023. The reason why KHC stock down include:

  • Higher-than-expected CPI: On October 12, a report revealed that September's Consumer Price Index (CPI) inflation came in at 3.7%, surpassing expectations of 3.6%. Core CPI inflation stood at 4.1%, in line with expectations. This higher inflation raised concerns among investors about a potential interest rate hike by the Federal Reserve, leading to a broader decline in the stock market, including KHC stock.
  • Inflation Impact on Food Prices: Inflation, particularly in the food sector, played a significant role in KHC's stock decline. The Bureau of Transportation Statistics reported a year-over-year increase of 3.7% in food prices for September. This inflationary pressure affected the food and beverage industry, contributing to the challenges faced by KHC in 2023.
packaged_foods JBS
$13.40
price down icon 1.18%
packaged_foods K
$79.80
price down icon 0.42%
packaged_foods GIS
$49.21
price down icon 1.62%
packaged_foods MKC
$71.39
price down icon 1.95%
packaged_foods HRL
$28.29
price down icon 1.43%
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